Lotus has confirmed that Pastor Maldonado will stay on for the 2016 season.

The news was announced by the team in the middle of the night Singapore time. Maldonado and sponsor PDVSA always had one more year on his contract with the team, but his position appeared to be in limbo given the ongoing negotiations with Renault. His manage Nicolas Todt was seen talking to both the team management and to Renault’s Cyril Abiteboul over the Singapore weekend.

Team boss Gerard Lopez said: “It’s a positive for the future of Lotus F1 Team that we are able to confirm publically that Pastor remains with us for next season. Everyone at Enstone will testify that Pastor is a terrific person to work with and we all know the performances he is capable of on track. Pastor joined us with a multi-year deal so this confirmation is a reiteration of our belief in him. We hope to be able to make further positive announcements regarding the team in the near future.”

Maldonado added: “It’s great that the team can confirm my position as race driver for 2016. Obviously, there has been a lot of speculation about the future and whilst I have remained focused on my job on track it is also positive to know that my future is confirmed. This season has presented us with some challenges but the quality of the squad at Enstone is clear to see. I really feel part of the family at Enstone and I’m looking forward to building on the work done this year to deliver better results in 2016.”

I always find myself subconsciously substituting his name for ‘Money’ whenever the team refer to him…”…the team are delighted to confirm Money for another year…” “…the guys in the factory love working with Money…” etc.